Gaming Innovation Group announced last year in October they signed a Letter of Intent with a large casino operator. For the time being, they opted to keep that deal confident. GIG plans to develop a new and unique online gaming platform for the casino operator. Gaming Innovation Group (GIG) is a key figure in the global online gaming industry.
GIG Joins Forces with Hard Rock
GIG signed an agreement with Hard Rock International (HRI) to formalize the Letter of Intent. The agreement enables GIG to supply services that include a platform and front-end development for the first-ever Hard Rock online casino. This agreement could turn out to be the largest platform agreement GIG has signed to date. The revenue shares will be providing the base for the operation.
Hard Rock International is a company that owns and runs the Hard Rock Café franchise. They also own hotels and land-based casino all around the globe. The company invested $500 million in its Hard Rock Hotel & Casino Atlantic and managed to expand its land-based casino operations to New Jersey.
GIG’s expansion strategy includes expanding into regulated markets, like the US. This partnership would allow the company to initiate the application process for New Jersey’s Casino Enterprise License. Moreover, the agreement obliges GIG to supply Hard Rock with a cutting-edge consumer portal. This includes a back-end platform to manage the company’s operations.
GIG already expressed its ambition to expand the platform services and focus on larger clients. The agreement with HRI is an immense progress for the platform services GIG offers. It marks the first time such an agreement has been made with such a large global brand. GIG intends to supply Hard Rock with GIG Magic, its innovative front-end casino service.
The Deal Beneficial to Both Parties
Speaking for Hard Rock Online Gaming, Kresimir Spajic explained the company has the ambition to become the leading brand in the international online gaming industry. He continued by saying Hard Rock is confident they will disrupt the market, in cooperation with GIG. They plan to do this by offering a unique user experience and product innovations.
Robin Reed, CEO of GIG has said that that the company is happy to become a part of Hard Rock’s future plans. This is an important step for GIG. It confirms their platform is attractive to large operators and it is able to support their plans. If everything goes to plan, GIG will add another gaming license to their portfolio. The company will be expanding to the US through the New Jersey market.
The terms of the agreement specified a period of 5 years in the initial contract. The launch of the product is expected during 2018.